Indian IT Giant TCS Developing Multiple Blockchain Platforms

March 15, 2019 by Akshay Makadiya

India’s largest software company, Tata Consultancy Services Limited (TCS), is actively working on a number of decentralized projects leveraging R3’s blockchain platform and Microsoft Azure blockchain workbench. Per the company, the blockchain venture was initiated to accelerate the adoption of distributed ledger technology across a wide range of industries.

Also read: All Growth: Data Firm Predicts Blockchain Spending to Hit $12.4 Billion in 2022

We love hearing from our readers. Sound off on our Twitter or Facebook pages
Check out our insights & interviews with influential insiders on the Bitsonline YouTube channel
And for the only source of UNFILTERED trading volume, head to CoinBillboard

TCS Delves Deep Into Blockchain

As reported by ANI, IT giant TCS is developing five blockchain architectures, each offering a different solution ranging from digital identity to tokenization. The platforms will also facilitate solutions such as track-and-trace, asset monetization, and assets in common.

The Indian IT heavyweight divulged that the platforms will leverage R3’s blockchain platform, Codra Enterprise, and be hosted on Microsoft Azure cloud.

TCS, the world’s ninth-largest IT company by market cap, intends to develop advanced cross-industry blockchain platforms that would make it easy to deploy scalable solutions on the platform. Apart from developing shared ledgers, TCS will develop a number of solutions built on these decentralized architectures.

Global head of blockchain services at TCS, Lakshminarasimhan Srinivasan, stated:

“Some of the anchor solutions that we are building on these platforms include skills marketplace, anti-counterfeiting of luxury goods, affordable mobility, shared telecom infrastructure for 5G and loyalty and rewards programmes.”

While the plan seems ambitious, the company has not announced any timeline to launch of these enterprise-level blockchain platforms. However, TCS hopes that the cross-industry blockchain platforms will increase adoption of the technology.

Race to Become Blockchain Platform Leaders

With this latest development, TCS plans to work on a market position in the blockchain space. On that front, software powerhouse TCS has successfully been offering its blockchain solution dubbed Quartz. The Quartz blockchain solution allows enterprises in the financial ecosystem to use distributed ledger tech to significantly cut transaction processing cost.

Earlier in January, Srinivasan stated that distributed ledger technology, along with artificial intelligence and Internet of Things (IoT), can lead to new income opportunities.

“The combinatorial effect of blockchain with other next-gen technologies such as artificial intelligence, Internet of Things, and virtual reality, cannot only drive hyper productivity and business transformation, but also open up new revenue streams through disruptive innovation.”

While TCS is aggressively pursuing blockchain, other Indian software firms are not behind the curve.

One such company is Tech Mahindra, which has been very bullish on distributed ledger technology. In the past, Tech Mahindra revealed plans to use DLT to register vehicle numbers. Apart from that, the IT heavyweight also signed an MoU with the state government of Telangana to build a blockchain district that will foster startups working in the space.

Moreover, Tech Mahindra also partnered with Microsoft to develop a blockchain-powered platform that would regulate unsolicited telecom communications.

Similarly, last year India’s second-biggest software firm Infosys developed a tailor-made blockchain trade finance network. The blockchain-powered platform is aimed to eliminate any opportunities for fraud in the Indian banking system.

Will TCS’s blockchain projects accelerate adoption of the technology? Share your views in the comments section.

Images via Pixabay

« Become the Rightful King of the Iron Tron

Published at Sat, 16 Mar 2019 00:00:53 +0000

April 5, 2017

BitConnect Coin (BCC) Broke Records as it Entered the Altcoin Top 20 Chart

New Cryptocurrency BitConnect Coin (BCC) has recently reached a record high in value and market capitalization. In the few months since its inception, BCC has seen record growth, surpassing numerous other well-established altcoins to enter the top 20 chart a few weeks ago.

[Note: This is a press release]

The fast progression of BitConnect Coin (BCC) has been put down to the innovative development of the new range of apps and a bull market within the industry.

BitConnect Coin (BCC) is an open source, peer-to-peer, community driven, decentralized cryptocurrency that has been designed for mass consumer adoption. The altcoin is a deflationary currency that facilitates store of value and is considered as an investment that can substantially appreciate when held over time.

BitConnect Coin was conceptualized in Q4, 2016 and was brought to fruition at the beginning of Q1, 2017. Since January 2017, BCC has gained significant traction in the market and an increased adoption rate. As a result, BCC has seen its value soar and its community garner over 50,000 members globally.

Much like bitcoin, BitConnect Coin’s design for mass adoption offers users an investment alternative while deducing dependency on decentralized financial institutions. The alternative currency also offers more security over its conventional counterparts, eliminating the potential for Identity theft, an issue that has for a long time plagued fiat-based payments infrastructures.

As per the leading cryptocurrency market website CoinMarketCap, BCC’s total market capitalization has crossed the US $20 million mark, making it the fastest growing altcoin in this time frame. BCC’s market capitalization has grown in unison with its value, which surpassed $2 per token last week and has gone on further beyond the $4 mark (at the time this article was written). By comparison, bitcoin — the cryptocurrency by which all other altcoins are compared, took over two years to see such gains.

BitConnect Coin uses a Scrypt (PoW/PoS) consensus algorithm with a finite number of tokens, limited to 28 million. The restricted number of tokens will ensure an appreciation in value as a rising demand outweighs a decreasing supply. BCC offers very fast, safe transactions, facilitating instantaneous and frequent payments or purchases.

BCC’s continual and rapid growth is a result of the company’s promising outlook towards 2017. Most notable upcoming developments include the BCC mining, staking pool, rewards for minting, mobile apps, wallets and the new Smart card. The mining and staking pool have particular potential due to the ‘earnings and deposit’ feature, which is set to launch in Q2, 2017. Bitconnect Coin, with its unprecedented growth, will soon climb further up the charts to position itself as a leading cryptocurrency in the market.

Images courtesy of BitConnect Coin, AdobeStock

The post BitConnect Coin (BCC) Broke Records as it Entered the Altcoin Top 20 Chart appeared first on Bitcoinist.com.

Indian IT Giant TCS Developing Multiple Blockchain Platforms